The Oxford Handbook of Ethics and EconomicsThe Oxford Handbook of Ethics and Economics



The Oxford Handbook of Ethics and Economics provides a timely and thorough survey of the various ways ethics can, does, and should inform economic theory and practice.

Author: Mark D. White

Publisher: Oxford University Press, USA

ISBN: 9780198793991

Category:

Page: 672

View: 287

Economics and ethics are both valuable tools for analyzing the behavior and actions of human beings and institutions. Adam Smith, the father of modern economics, considered them two sides of the same coin, but since economics was formalized and mathematicised in the late 1800s and early 1900s, the fields have largely followed separate paths. The Oxford Handbook of Ethics and Economics provides a timely and thorough survey of the various ways ethics can, does, and should inform economic theory and practice. The first part of the book, Foundations, explores how the most prominent schools of moral philosophy relate to economics; asks how morals relevant to economic behavior may have evolved; and explains how various approaches to economics incorporate ethics into their work. The second part, Applications, looks at the ethics of commerce, finance, and markets; uncovers the moral dilemmas involved with making decisions regarding social welfare, risk, and harm to others; and explores how ethics is relevant to major topics within economics, such as health care and the environment. With esteemed contributors from economics and philosophy, The Oxford Handbook of Ethics and Economics is a resource for scholars in both disciplines and those in related fields. It highlights the close relationship between ethics and economics in the past while and lays a foundation for further integration going forward.

The Moral EconomistsThe Moral Economists



Articulating the relationship between the moral economists and relevant contemporary ideas and movements will give skeptical readers further opportunity to test my claims. In addition to Evan Durbin and Karl Mannheim, ...

Author: Tim Rogan

Publisher: Princeton University Press

ISBN: 9780691191492

Category:

Page: 280

View: 113

A fresh look at how three important twentieth-century British thinkers viewed capitalism through a moral rather than material lens What’s wrong with capitalism? Answers to that question today focus on material inequality. Led by economists and conducted in utilitarian terms, the critique of capitalism in the twenty-first century is primarily concerned with disparities in income and wealth. It was not always so. The Moral Economists reconstructs another critical tradition, developed across the twentieth century in Britain, in which material deprivation was less important than moral or spiritual desolation. Tim Rogan focuses on three of the twentieth century’s most influential critics of capitalism—R. H. Tawney, Karl Polanyi, and E. P. Thompson. Making arguments about the relationships between economics and ethics in modernity, their works commanded wide readerships, shaped research agendas, and influenced public opinion. Rejecting the social philosophy of laissez-faire but fearing authoritarianism, these writers sought out forms of social solidarity closer than individualism admitted but freer than collectivism allowed. They discovered such solidarities while teaching economics, history, and literature to workers in the north of England and elsewhere. They wrote histories of capitalism to make these solidarities articulate. They used makeshift languages of “tradition” and “custom” to describe them until Thompson patented the idea of the “moral economy.” Their program began as a way of theorizing everything economics left out, but in challenging utilitarian orthodoxy in economics from the outside, they anticipated the work of later innovators inside economics. Examining the moral cornerstones of a twentieth-century critique of capitalism, The Moral Economists explains why this critique fell into disuse, and how it might be reformulated for the twenty-first century.

The Morality of Economic BehaviourThe Morality of Economic Behaviour



This book is of interest primarily to students of politics, economics and philosophy but will also appeal to anyone who is interested in morality and ethics, and their relationship with self-interest.

Author: Vangelis Chiotis

Publisher: Routledge

ISBN: 9781351168861

Category:

Page: 106

View: 442

The links between self-interest and morality have been examined in moral philosophy since Plato. Economics is a mostly value-free discipline, having lost its original ethical dimension as described by Adam Smith. Examining moral philosophy through the framework provided by economics offers new insights into both disciplines and the discussion on the origins and nature of morality. The Morality of Economic Behaviour: Economics as Ethics argues that moral behaviour does not need to be exogenously encouraged or enforced because morality is a side effect of interactions between self-interested agents. The argument relies on two important parameters: behaviour in a social environment and the effects of intertemporal choice on rational behaviour. Considering social structures and repeated interactions on rational maximisation allows an argument for the morality of economic behaviour. Amoral agents interacting within society can reach moral outcomes. Thus, economics becomes a synthesis of moral and rational choice theory bypassing the problems of ethics in economic behaviour whilst promoting moral behaviour and ethical outcomes. This approach sheds new light on practical issues such as economic policy, business ethics and social responsibility. This book is of interest primarily to students of politics, economics and philosophy but will also appeal to anyone who is interested in morality and ethics, and their relationship with self-interest.

Adam Smith s System of Liberty Wealth and VirtueAdam Smith s System of Liberty Wealth and Virtue



This book analyses the influence that Adam Smith's philosophy had on his Wealth of Nations, and reveals the unity in Smith's extensive system of morals, politics, and economics.

Author: Athol Fitzgibbons

Publisher: Oxford University Press

ISBN: 9780198289234

Category:

Page: 214

View: 738

This book analyses the influence that Adam Smith's philosophy had on his Wealth of Nations, and reveals the unity in Smith's extensive system of morals, politics, and economics. It concludes that Smith was motivated by a political ideal, which was moral liberalism.

Words Objects and Events in EconomicsWords Objects and Events in Economics



This open access book examines from a variety of perspectives the disappearance of moral content and ethical judgment from the models employed in the formulation of modern economic theory, and some of the papers contain important proposals ...

Author: Peter Róna

Publisher: Springer

ISBN: 3030526720

Category:

Page: 226

View: 443

This open access book examines from a variety of perspectives the disappearance of moral content and ethical judgment from the models employed in the formulation of modern economic theory, and some of the papers contain important proposals about how moral judgment could be reintroduced in economic theory. The chapters collected in this volume result from the favorable reception of the first volume of the Virtues in Economics series and represent further contributions to the themes set out in that volume: (i) examining the philosophical and methodological fallacies of this turn in modern economic theory that the removal of the moral motivation of economic agents from modern economic theory has entailed; and (ii) proposing a return descriptive economics as the means with which the moral content of economic life could be restored in economic theory. This book is of interest to researchers and students of the methodology of economics, ethics, philosophers concerned with agency and economists who build economic models that rest in the intention of the agent.

A moral EconomicsA moral Economics



Between political economists ' purely economic definition and Dickens's moral definition of value lies a set of texts that assert the inextricability of moral and economic value . These texts — responses to the 1844 Bank Charter Act ...

Author: Claudia C. Klaver

Publisher: Ohio State University Press

ISBN: 0814209440

Category:

Page: 225

View: 803

"A/Moral Economics is an interdisciplinary historical study that examines the ways which social "science" or economics emerged through the discourse of the literary, namely the dominant moral and fictional narrative genres of early and mid-Victorian England. In particular, this book argues that the classical economic theory of early-nineteenth-century England gained its broad cultural authority not directly, through the well-known texts of such canonical economic theorists as David Ricardo, but indirectly through the narratives constructed by Ricardo's popularizers John Ramsey McCulloch and Harriet Martineau. By reexamining the rhetorical and institutional contexts of classical political economy in the nineteenth century, "A/Moral Economics repositions the popular writings of both supporters and detractors of political economy as central to early political economists' bids for a cultural voice. The now marginalized economic writings of McCulloch, Martineau, Henry Mayhew, and John Ruskin, as well as the texts of Charles Dickens and J.S. Mill, must be read as constituting in part the entitles they have been read as merely criticizing. It is this repressed moral logic that resurfaces in a range of textual contradictions--not only in the writings of Ricardo's supporters, but ironically, in those of his critics as well.

Why Some Things Should Not Be for SaleWhy Some Things Should Not Be for Sale



An accessibly written work that will engage not only philosophers but also political scientists, economists, legal scholars, and public policy experts, this book is a significant contribution to ongoing discussions about the place of ...

Author: Debra Satz

Publisher: Oxford University Press

ISBN: 0199718571

Category:

Page: 264

View: 619

What's wrong with markets in everything? Markets today are widely recognized as the most efficient way in general to organize production and distribution in a complex economy. And with the collapse of communism and rise of globalization, it's no surprise that markets and the political theories supporting them have seen a considerable resurgence. For many, markets are an all-purpose remedy for the deadening effects of bureaucracy and state control. But what about those markets we might label noxious-markets in addictive drugs, say, or in sex, weapons, child labor, or human organs? Such markets arouse widespread discomfort and often revulsion. In Why Some Things Should Not Be for Sale, philosopher Debra Satz takes a penetrating look at those commodity exchanges that strike most of us as problematic. What considerations, she asks, ought to guide the debates about such markets? What is it about a market involving prostitution or the sale of kidneys that makes it morally objectionable? How is a market in weapons or pollution different than a market in soybeans or automobiles? Are laws and social policies banning the more noxious markets necessarily the best responses to them? Satz contends that categories previously used by philosophers and economists are of limited utility in addressing such questions because they have assumed markets to be homogenous. Accordingly, she offers a broader and more nuanced view of markets-one that goes beyond the usual discussions of efficiency and distributional equality--to show how markets shape our culture, foster or thwart human development, and create and support structures of power. An accessibly written work that will engage not only philosophers but also political scientists, economists, legal scholars, and public policy experts, this book is a significant contribution to ongoing discussions about the place of markets in a democratic society.

Keynes and the Quest for a Moral ScienceKeynes and the Quest for a Moral Science



Parson (policy analysis, U. of London) clears away the mechanistic and positivistic language and ideology that has surrounded the work of the British economist to find a social scientist and philosopher rooted in an alchemical fascination ...

Author: D. W. Parsons

Publisher: Edward Elgar Pub

ISBN: STANFORD:36105022370139

Category:

Page: 212

View: 128

Parson (policy analysis, U. of London) clears away the mechanistic and positivistic language and ideology that has surrounded the work of the British economist to find a social scientist and philosopher rooted in an alchemical fascination with the art of transmutation and the quest for the philosopher's stone. He places Keynes (1883-1946) in a long history of scientific and intellectual tradition with the intention of retrieving him as a source of inspiration and illumination for the theory and practice of public policy. Annotation copyrighted by Book News, Inc., Portland, OR

Reckoning with MarketsReckoning with Markets



This book presents the notion that economic thinking cannot escape value judgments at any level and that this understanding has been the dominant view throughout most of history.

Author: James Halteman

Publisher: Oxford University Press

ISBN: 9780199924264

Category:

Page: 240

View: 106

Undergraduate economics students begin and end their study of economics with the simple claim that economics is value free. Only in a policy role will values and beliefs enter into economic work; there can be little meaningful dialogue by economists about such personal views and opinions. This view, now well over 200 years old, has been challenged by heterodox thinkers in economics, and philosophers and social scientists outside the discipline all along the way. However, much of the debate in modern times has been narrowly focused on philosophical methodological issues on one hand or theological/sectarian concerns on the other. None of this filters down to the typical undergraduate even in advanced courses on the history of economic thought. This book presents the notion that economic thinking cannot escape value judgments at any level and that this understanding has been the dominant view throughout most of history. It shows how, from ancient times, people who thought about economic matters integrated moral reflection into their thinking. Reflecting on the Enlightenment and the birth of economics as a science, Halteman and Noell illustrate the process by which values and beliefs were excluded from economics proper. They also appraise the reader with relevant developments over the last half-century which offer promise of re-integrating moral reflection in economic research. With the advent of interdependency concepts and game theory, behavioral economics and the infusion of other social sciences, especially psychology, into economic considerations, the door is once again open to moral reflection. It is a sensitive subject that can be divisive for many and there is little if any assessable literature on the topic at the undergraduate level. One way to approach the subject is to follow the path of the great thinkers of the past and observe how they worked through economic issues from a set of values that was foundational to their thinking. This places moral thinking in a context illuminating the complexity and importance of moral reflection and illustrating its impact on the culture of the times. Reckoning with Markets follows this method with a deliberate effort to cast the material in terms that will engage the undergraduate student. A number of vignettes which apply the perspectives of key figures in the history of economic thought to modern values and policy questions are provided.

Economic Analysis Moral Philosophy and Public PolicyEconomic Analysis Moral Philosophy and Public Policy



This 2006 book shows through accessible argument and numerous examples how understanding moral philosophy can improve economic analysis, how moral philosophy can benefit from economists' analytical tools, and how economic analysis and moral ...

Author: Daniel M. Hausman

Publisher: Cambridge University Press

ISBN: 9781139450652

Category:

Page: 354

View: 297

This 2006 book shows through accessible argument and numerous examples how understanding moral philosophy can improve economic analysis, how moral philosophy can benefit from economists' analytical tools, and how economic analysis and moral philosophy together can inform public policy. Part I explores rationality and its connections to morality. It argues that in defending their model of rationality, mainstream economists implicitly espouse contestable moral principles. Part II concerns welfare, utilitarianism and standard welfare economics, while Part III considers important moral notions that are left out of standard welfare economics, such as freedom, rights, equality, and justice. Part III also emphasizes the variety of moral considerations that are relevant to evaluating policies. Part IV then introduces technical work in social choice theory and game theory that is guided by ethical concepts and relevant to moral theorizing. Chapters include recommended readings and the book includes a glossary of relevant terms.

Morality of MarketsMorality of Markets



This Book Addresses Critical Issues Ranging From The Underlying Ethics Of Voluntary Exchange, Morality In The Commerce And The Corporation, The Immorality Of State Intervention, And The Role Of Markets In The Teachings Of Major World ...

Author: Parth J. Shah

Publisher: Academic Foundation

ISBN: 8171883664

Category:

Page: 358

View: 539

This Book Addresses Critical Issues Ranging From The Underlying Ethics Of Voluntary Exchange, Morality In The Commerce And The Corporation, The Immorality Of State Intervention, And The Role Of Markets In The Teachings Of Major World Religions. Contributions By Distinguished Economists, Ethicists, And Theologians Explore The Moral And Ethical Foundations Of The Free Market.

The Market and Public ChoicesThe Market and Public Choices



By focusing on this question the book necessarily reconstitutes the link between ethics and economics. Thus the book deals with a crucial topic: the moral assessment of the market mechanism as a tool for allocating scarce resources.

Author: Alfonso Salinas

Publisher: Routledge

ISBN: STANFORD:36105118022750

Category:

Page: 210

View: 662

This book assumes a viewpoint practically absent from contemporary economics, and readdresses the first fundamental question of economics: how should we decide how scarce resources should be allocated among competing uses? By focusing on this question the book necessarily reconstitutes the link between ethics and economics. Thus the book deals with a crucial topic: the moral assessment of the market mechanism as a tool for allocating scarce resources. The key tenet of the book is that the market achieves ends that transcends itself - ends that must remain the prerogative of civil society. Questions of the foundations of moral philosophy are considered - allocating scarce resources is shown to be an exclusively human capacity which means that the market is unable to determine such issues endogenously. An intuitionist approach to moral philosophy is developed and this is placed in the context of the history of western moral philosophy. The argument encompasses mathematical logic, philosophy of mind, moral philosophy and economics. This key book will appeal to anyone interested in Economics and Ethics and the role of the state.

Economics Ethics and ReligionEconomics Ethics and Religion



There is a revival of interest by economists in ethical issues and beliefs, and by moral philosophers and theologians in economics. This book is intended to make a contribution to this cross-fertilisation of ideas.

Author: R. Wilson

Publisher: Springer

ISBN: 9780230374720

Category:

Page: 233

View: 353

There is a revival of interest by economists in ethical issues and beliefs, and by moral philosophers and theologians in economics. This book is intended to make a contribution to this cross-fertilisation of ideas. Rodney Wilson has undertaken an extensive survey of Jewish, Christian and Muslim views on economics, and reviewed the rapidly expanding business ethics literature from a religious perspective. The juxtaposition of the work of theologians and moral philosophers with that of economists results in some interesting comparisons.

The Moral Foundations of Civil SocietyThe Moral Foundations of Civil Society



Roepke never does this, and this is his strength. He realizes that all of these are legitimate aspects of human experience which must be satisfied in a balanced and harmonious social existence.

Author: Wilhelm Roepke

Publisher: Routledge

ISBN: 9781351479196

Category:

Page: 250

View: 878

Wilhelm Roepke may have been the soundest economist of the twentieth century. He understood the limitations as well as the strengths of his discipline. Economists are often tempted to take the easy way out, by denying reality to aspects of human existence and reducing them to arbitrary and subjective tastes and preferences. Roepke never does this, and this is his strength. He realizes that all of these are legitimate aspects of human experience which must be satisfied in a balanced and harmonious social existence. Nature, sex, religion, beauty, and politics are all meaningful as parts of the whole. Problems occur only when each segment attempts to become the whole.The original title of this book, Civitas Humana, contains a double meaning. It promises a treatment of questions fundamental not only to human society but also to humane society. The volume combines distinct aspects of life. Half of the book is devoted to questions of economic and social life. The other half examines spiritual and national life. Chapters include Moral Foundations, The Place of Science in the City of Man, Counterweights to the State, Congestion and Proletarianisation of Society, and Economic System and International New Order.Although Roepke recognized the validity of the nation in the modern world, he was constantly trying to find the smaller agencies within society in which real allegiances and loyalties were to be developed. His ideas continue to be of significance. As described by William F. Campbell in the new introduction, The Moral Foundations of Civil Society is a necessary addition to the libraries of economists, sociologists, theologians, and philosophers.

Economics and the Moral OrderEconomics and the Moral Order



A free and prosperous economy is the by-product, so to speak, of a society influenced by sound moral principles and accustomed to good moral habits. Some people would like to separate economics from morals; but they are unable to do so.

Author: Joseph Baldacchino

Publisher: National Humanities Inst

ISBN: IND:39000000996061

Category:

Page: 43

View: 159

This succinct but illuminating book defends the free market, while criticizing a narrowly economistic understanding of man and society. Baldacchino argues that a sound economy has ethical and cultural prerequisites that are integral to its survival. Includes an introduction by Russell Kirk. From the Introduction: “Any society's moral order develops from its religion, its philosophy, its humane literature. The discipline of political economy, little understood until the latter half of the eighteenth century, is no independent creation: what economic views one holds must depend upon one's apprehension of human nature. An economic system indifferent to morality will not long endure. For proof of these theses, read with attention Baldacchino's succinct study, the work of a sound scholar endowed with a philosophical habit of mind.”–Russell Kirk

Method and Morals in Constitutional EconomicsMethod and Morals in Constitutional Economics



This book contains a range of essays on topics in the emerging field of "constitutional political economy".

Author: James M. Buchanan

Publisher: Springer Science & Business Media

ISBN: 3540419705

Category:

Page: 567

View: 778

This book contains a range of essays on topics in the emerging field of "constitutional political economy". This field of enquiry is strongly associated with the name of James M. Buchanan whose research program has been the point of departure for this field. The essays are a selection of those written by colleagues and researchers in the field to honor Buchanan on the occasion of his 80th birthday. They cover a wide range of topics but fall primarily into two sets: one set dealing with methodological aspects of the c.p.e. approach; the other dealing with specific applications in a variety of policy areas, ranging from "economic transformation" to monetary policy regimes to health care. One particular issue in the methodological area relates to the model of motivation used - and more especially, the role of "morality" in economic and political behavior. The five essays on this topic make up one of the sections of the book, and justify reference to the issue in the volume's title.

The Morality of BusinessThe Morality of Business



In this thought-provoking book, The Morality of Business: A Profession for Human Wealthcare, Machan argues that business, like medicine, enhances human life, and that it is indeed a thoroughly decent profession for people to choose to enter ...

Author: Tibor R. Machan

Publisher: Springer Science & Business Media

ISBN: 9780387489070

Category:

Page: 138

View: 890

Government interference in free enterprise is growing. Should they intercede in business ethics and corporate responsibility; and if so, to what extent? The Morality of Business: A Profession for Human Wealthcare goes beyond the utilitarian case in discussing the various elements of business ethics, social policy, job security, outsourcing, government regulation, stakeholder theory, advertising and property rights.

Integrity and AgreementIntegrity and Agreement



"Two impressive features of this book are its clarity of purpose and the breadth of disciplinary resources to which it appeals.

Author: Alanson Minkler

Publisher: University of Michigan Press

ISBN: 9780472024223

Category:

Page: 184

View: 946

"Two impressive features of this book are its clarity of purpose and the breadth of disciplinary resources to which it appeals." ---Geoffrey Brennan, Professor of Economics, Australian National University "Facing massive evidence that people do not act generally as self-regarding payoff maximizers, economists have become increasingly interested in issues of cooperation, altruism, identity, and morality. Lanse Minkler's contribution is particularly important because of his powerful argument that the evidence of cooperation cannot be explained adequately by a more complicated preference function. A disposition for honesty is not simply a matter of preference---it is an issue of personal integrity, identity, and commitment. This has major implications. In particular we have to reconstruct the theory of the firm from first principles. No economist committed to the pursuit of truth should ignore this volume." ---Geoffrey Hodgson, Research Professor in Business Studies, University of Hertfordshire, United Kingdom, and Editor in Chief of the Journal of Institutional Economics "This is an interesting account of the role of integrity---preference-integrity and commitment-integrity---on economic behavior. While drawing knowledge from traditional subfields of economics, it also includes insights gleaned from psychology and philosophy, showing their effects in varied areas such as political behavior, the employment relation, religion, and human rights. In this exciting volume Lanse Minkler does an excellent job of incorporating various newer concepts of fairness and integrity into economic analysis." ---Ernst Fehr, Professor and Head of the Chair of Microeconomics and Experimental Economic Research and Director of the Institute for Empirical Research in Economics, University of Zurich Social scientists who treat humans as rational beings driven exclusively by self-interest ignore a key factor shaping human behavior: the influence of moral principles. Starting with the elementary principle "lying is wrong," economic theorist Lanse Minkler examines the ways in which a sense of morality guides real-life decision making. Whether one feels committed to specific or general moral principles, Minkler explains, integrity demands consistently acting on that commitment. Because truthfulness is the most basic moral principle, integrity means honesty. And honesty extends beyond truth-telling. It requires good faith when entering an agreement and then standing by one's word. From this premise, Minkler explores the implications of integrity for contracts between buyers and sellers and understandings between employers and employees. He also finds a role for integrity in an individual's religious vows, an elected official's accountability to constituents, and a community's obligation to human rights. Integrity and Agreement reintroduces morality as a factor for economists, sociologists, psychologists, and political scientists to consider in their efforts to comprehend human behavior. Lanse Minkler is Associate Professor of Economics at the University of Connecticut.

The Moral Consequences of Economic GrowthThe Moral Consequences of Economic Growth



Describes the benefits of widely distributed economic growth, including the creation and enhancement of democratic institutions, political stability, and the promotion of opportunity, exploring the role of economic growth in determining ...

Author: Benjamin M. Friedman

Publisher: Alfred a Knopf Incorporated

ISBN: STANFORD:36105114533586

Category:

Page: 570

View: 678

Describes the benefits of widely distributed economic growth, including the creation and enhancement of democratic institutions, political stability, and the promotion of opportunity, exploring the role of economic growth in determining which nations will extend the broadest freedoms to their citizenry and arguing that we must aggressively promote global economic growth. 25,000 first printing.